Cigna Investments Inc. New acquired a new stake in shares of SP Plus Corporation (NASDAQ:SP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 27,842 shares of the business services provider’s stock, valued at approximately $851,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in SP Plus Corporation by 2.1% in the first quarter. Vanguard Group Inc. now owns 770,768 shares of the business services provider’s stock valued at $26,014,000 after buying an additional 16,143 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in SP Plus Corporation by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 767,223 shares of the business services provider’s stock valued at $25,894,000 after buying an additional 32,493 shares in the last quarter. Investment Counselors of Maryland LLC raised its stake in SP Plus Corporation by 11.7% in the second quarter. Investment Counselors of Maryland LLC now owns 712,112 shares of the business services provider’s stock valued at $21,755,000 after buying an additional 74,441 shares in the last quarter. Renaissance Technologies LLC raised its stake in SP Plus Corporation by 26.0% in the first quarter. Renaissance Technologies LLC now owns 343,100 shares of the business services provider’s stock valued at $11,580,000 after buying an additional 70,800 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in SP Plus Corporation by 36.9% in the first quarter. Nuveen Asset Management LLC now owns 331,891 shares of the business services provider’s stock valued at $11,201,000 after buying an additional 89,455 shares in the last quarter. Hedge funds and other institutional investors own 74.75% of the company’s stock.

SP Plus Corporation (NASDAQ SP) opened at 35.40 on Friday. The company has a market cap of $785.95 million, a price-to-earnings ratio of 20.56 and a beta of 1.01. SP Plus Corporation has a 52 week low of $22.60 and a 52 week high of $38.55. The stock’s 50 day moving average price is $32.26 and its 200-day moving average price is $31.42.

SP Plus Corporation (NASDAQ:SP) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.42 by $0.11. SP Plus Corporation had a return on equity of 13.82% and a net margin of 2.36%. The business had revenue of $415.40 million for the quarter, compared to the consensus estimate of $223.35 million. On average, equities research analysts forecast that SP Plus Corporation will post $1.71 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece was reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.watchlistnews.com/27842-shares-in-sp-plus-corporation-nasdaqsp-acquired-by-cigna-investments-inc-new/1477310.html.

SP has been the topic of several research analyst reports. Zacks Investment Research upgraded SP Plus Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Friday, August 4th. ValuEngine lowered SP Plus Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub upgraded SP Plus Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday.

In related news, major shareholder Cpc Rep L.L.C. Kohlberg sold 2,625,415 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $29.20, for a total value of $76,662,118.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert S. Roath sold 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $34.77, for a total value of $2,433,900.00. Following the completion of the transaction, the director now owns 36,936 shares in the company, valued at approximately $1,284,264.72. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

About SP Plus Corporation

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

Want to see what other hedge funds are holding SP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SP Plus Corporation (NASDAQ:SP).

Institutional Ownership by Quarter for SP Plus Corporation (NASDAQ:SP)

Receive News & Ratings for SP Plus Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SP Plus Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.